Bakkt Makes Power Move: Acquires Marusho Hotta, Rebrands as ’bitcoin.jp’ to Dominate Japan’s Crypto Treasury Market

Bakkt just flipped the script in Japan’s crypto scene—snagging a stake in Marusho Hotta and slapping on a shiny new name: bitcoin.jp. This isn’t just a rebrand; it’s a full-scale assault on the institutional crypto treasury space.

Why it matters: With regulators breathing down necks worldwide, Bakkt’s pivot to Japan—a market that’s been cautiously warm to crypto—smells like a masterstroke. Or a desperate Hail Mary. Depends who you ask.

The punchline: While Wall Street still debates whether Bitcoin’s a 'real asset,' Bakkt’s betting the farm that corporate Japan will ditch yen for BTC faster than a salaryman can say 'arbitrage.' Good luck explaining that to the FSA.

Bakkt Holdings will acquire a 30% stake in Japanese yarn maker Marusho Hotta for $115 million as part of a major strategic pivot. The company will be rebranded as “bitcoin.jp” and shift its focus from textiles to a crypto treasury business centered on Bitcoin and digital assets. With Bakkt’s Phillip Lord set to become CEO, the newly named entity aims to leverage Japan’s crypto-friendly regulations and emerge as a corporate leader in Bitcoin-based treasury management.